PETALING JAYA: Property management solutions provider IDB Technologies Bhd, which was listed on the LEAP Market of Bursa Malaysia today, aims to expand further into the Asean region, particularly Cambodia, Singapore, Vietnam and Myanmar, spurred by the incentives to boost tourism by the respective government.
Its shares opened 1.5 sen or 21.4% higher at 8.5 sen before closing at its intraday high of 9 sen, a 2 sen or 28.6% premium on 141,500 shares done, giving it a market capitalisation of RM45 million.
IDB provides property management solutions for hotels and accommodations comprising proprietary end-to-end software modules for reservations and booking engines, front desk, housekeeping, point-of-sale software, accounting and others.
IDB CEO Cheah Kah Beng said the company had begun making inroads into Cambodia in last April to supply solutions to a China-based hotel management company with a chain of hotels in Cambodia.
“And now we’re pushing ahead to expand our presence in line with the tourism growth in the country,” he said in a statement.
He said the group intends to expand its reach into new markets of Singapore, Vietnam and Myanmar, in line with the anticipated boom in tourism and the corresponding demand for the hotel and accommodation sector.
“In fact, the end-to-end scope, robustness and scalability of our solutions would be able to meet the surge in demand from the sector.”
In addition, the group is investing into technology research and development, with the aim to enhance the existing property management solutions as well as create new add-on modules.
As of Aug 26, the group’s client base stood at 125 with a diverse customer base ranging from budget to five-star hotels.
